Using CPF Housing Grant for EC

Using CPF Housing Grant to purchase Executive Condo:

Citizenship:

Must be a Singapore Citizen + with family nucleus comprising at least another Singapore Citizen or Singapore Permanent Resident (SC + SC/PR)

 

Family Nucleus:

  • Married couple
  • Fiance and Fiancee (must produce marriage certificate on or before TOP or within 2 years from the date of signing the Sales & Purchase agreement, whichever is earlier

Widowed/divorced person with child/children under his/her legal custody

 

Household Status:

Buyer and essential family members listed must not:

  • Be owners of flat bought direct from HDB, DBSS/EC bought from developer under CPF housing grant
  • Have sold a flat bought direct from HDB, DBSS/EC bought from developer under CPF housing grant
  • Received CPF housing grant for purchase of HDB resale flat

Enjoyed other forms of housing subsidy (Selective En bloc Redevelopment Scheme, privatization of HUDC estate)

 

Income Eligibility: Your average gross monthly household income must not exceed $12,000.

Eligible first timer households will receive a CPF housing grant of:

Monthly Household Income not more than $10,000 –> CPF Housing Grant of $30,000

Monthly Household Income more than $10,001 to $11,000 –> CPF Housing Grant of $20,000

Monthly Household Income more than $11,001 to $12,000 –> CPF Housing Grant of $10,000

Grant will be credited into buyer’s CPF account and he/she can use it to pay for the remaining 10% CPF down-payment at the stage of signing the S&P.

Find out more on Income Guideline here

 

Minimum Occupation Period:

Start date of MOP computed from the date of issuance of Temporary Occupation Permit (TOP)

 

First 5 years – Owner occupied

6th to 10th years – Sold to open market to Singapore Citizen and PR only

After 10th year – Sold to open market to foreigners and corporate bodies

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